Forecast: Production of ICT Services in Mexico

The ICT Services production in Mexico has shown fluctuations from 2013 to 2023 with significant variations. The value stood at 9.51 billion Mexican Pesos in 2023. Over the last two years, the production saw a year-on-year variation of 9.33% in 2021, -0.23% in 2022, and 1.7% in 2023. The Compound Annual Growth Rate (CAGR) averaged 2.29% over the last five years. The forecast predicts gradual growth, reaching 10.35 billion Mexican Pesos by 2028, with a forecast 5-year CAGR of 1.31% and a forecast 5-year growth rate of 6.72%.

Future trends to watch for include:

• Increasing digital transformation efforts across industries.
• Growth in cloud computing and IT outsourcing services.
• Government policies promoting ICT infrastructure development.
• Emerging technologies like AI and IoT driving service demand.